July 17, 2024
Owlto Finance, a service that bridges different blockchain networks and is developed as a layer-2 roll-up solution for Ethereum, has recently raised new capital in a funding round supported by Matrixport. This has increased its valuation to $150 million.
Project | Latest Raise Date | Lead Investor | Category |
|---|---|---|---|
Owlto Finance | July 17, 2024 | Matrixport | Layer 2 |
Since its launch in 2023, Owlto Finance has been able to support more than 45 networks within the Bitcoin, Ethereum, and Solana ecosystems. While the exact amount of funding was not disclosed, it's understood that the funds will be used to expand the startup's network support and further develop a new interoperability protocol. This protocol will use an artificial intelligence agent to suggest cost-effective bridging paths, as per a press release viewed by crypto.news.
In addition, Owlto Finance is working on a modular interoperability protocol and an omnichain liquidity solution. These developments will allow smart contracts to carry out non-custodial cross-chain transactions without the need to deploy their own multi-chain liquidity.
The protocol has received an AA rating from blockchain auditor CertiK, making it one of the highest-rated projects in the cross-chain bridge category.
This funding comes on the heels of Owlto Finance's $8 million strategic funding round two months prior, which was led by Bixin Ventures and CE Innovation Capital. Other participants included Hailstone Labs, Presto, Skyland Ventures, GSR, Blocore, Kroma, and SNZ Capital.
About Owlto
Owlto Finance is a Cross-chain Interoperability Protocol with the mission to 'Bridge the World with AI Agent’. It offers a low-cost, secure, and fast solution for transferring assets, developed as a cross-rollup module based on the Ethereum L2 rollup. The platform supports more than 45 networks within the Bitcoin, Ethereum, and Solana ecosystems3. With its innovative approach, Owlto Finance allows users to freely transfer assets between different networks, providing a seamless experience.
Website: https://owlto.finance/
X Followers today: 317,647
X Followers 30 days ago: 293,590
X Change: 24,057 (+8.19%)
About Investor
Investor: Matrixport
Matrixport was established with the aim of broadening global access to an open, low-cost, and transparent financial network. It offers a comprehensive suite of innovative and easy-to-use crypto investment products and financial services, tailored for all levels of expertise. The platform empowers people to take control of their personal finances. It also forges strategic collaborations with early-stage Web3 innovators, helping them build, grow, and scale.
Location: Singapore, Singapore
Website: https://www.matrixport.com/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
Comments